Using cross-country panel data, we found evidence that the Internet plays a positive and significant role in economic growth after investment ratio, government consumption ratio, and inflation were used as control variables in the growth equation.

Using GMM estimation with the US data from January 1967 to April 2003, the precautionary saving hypothesis is tested using time-varying consumption uncertainty and a nonexpected-utility model of intertemporal optimal consumption. Overidentifying restrictions of the model specification are also...

The causal relationship between financial development and economic growth is examined, utilizing the superexogeneity methodology. We use annual data for Korea during 1971-2002, during which Korea has experienced both phenomenal economic growth and a variety of financial liberalization and...